sourceUS employment grew at the fastest pace in four years in April as private sector businesses ramped up hiring, showing the labor market recovery picking up steam.
Employers added 290,000 jobs in April, the Labor Department said on Friday, far more than analysts had expected.
The department also revised figures for February and March to show 121,000 more jobs were added than previously thought.
The unemployment rate, however, rose to 9.9 percent as discouraged workers re-entered the labor force to look for work.
As speculated, job creation exceeded even the most optimistic expectations. At current rate, we are right at or exceeding the necessary requirements for the steady state. As job expectations increased, so did the unemployment rate. None the less, another round of positive news in the recovery of labor markets.